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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big, bold idea is never mind. >> but the etch a sketching did not stop there. governor romney who once believed financial regulation was hurting the economy -- >> dodd frank it's called, has not helped enterprise get going, it's slowed it down. >> now seems to be a supporter of wall street regulation. >> want to repeal dodd/frank? >> and replace it. we're not going to get rid of regulation. some parts of dodd/frank that make all of the sense in the world. >> and back in june, romney mocked the president's crazy ideas about needing more
be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big,...
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more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities? . >>> top 10 in e.r.a. and strikeouts today, the nats geo gonzalez was recognized as the best left-handed picture -- pitcher in baseball. next time, he'll take to sunday's game, one of the nlds against the cardinals or braves. yes, the nats have home field advantage after wednesday's win and that is a 2-3 form at, meaning the first two are on the road. yesterday, ryan zimmerman last the home crowd, 25 runs on the season for him and michael morris teed off as well for the team's 98th win and that is a 95-1 final. the orioles -- orioles game didn't go as well and that is because of what he needed to get out of the season and he hit two home runs and three yesterday. the top 4-1, meaning baltimore visits the tex
more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities? . >>> top 10 in e.r.a. and strikeouts today, the nats geo gonzalez was recognized as the best left-handed picture -- pitcher in baseball. next time, he'll...
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$2,000, while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the content of this advertising. >> new york police are trying to track down a man robbing people at needle point. they say he carries a hypodermic needle. not clear what is in the syringe. he steals phones, and even held up a 14-year-old for his phone. all of the victims are teenage boys. the needle robber has hit 9 times. >>> four men are charged with a deadly shooting at a foreign wars post in florida. two people were killed and another critically hurt. the shooting happened after a fight yesterday in a parking lot where a motorcycle club was gathering for a charity ride. no word on what sparked the fight. >> a man who survived the shooting at the colorado movie theater is demanding a plan from the president and mitt romney on how to deal with gun violence. >> in the next four years 48,000 americans won't be so lucky, because they'll be murdered with gu
$2,000, while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the content of this advertising. >> new york police are trying to track down a man robbing people at needle point. they say he carries a hypodermic needle. not clear what is in the syringe. he steals phones, and even held up a 14-year-old for his phone. all of the victims are teenage boys. the...
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mitt romney and common sense conservatives will cut taxes on the middle class. and they'll close loopholes for millionaires. obama and his liberal allies? we can't afford four more years. [ romney] i'm mitt romney and i approve this message. >> live and in hd, this is abc 7 breaking news. [inaudible] >> breaking news is coming in washington.st seven residents were rescued by firefighters. people may soon be searching for e to wait -- to live. tom roussey has the first report of there. now live. >> workers are still out here up the scene tonight. a fire department has not the official cause of the fire. you where it started. started on a second-floor apartment. have since put plywood on e window there. was from the third floor tore a number of folks had be rescued. one man fell. in this video shot by a thehbor, you could see the threeoting out of story apartment building. people on the scene say it was chaos. >> we ran inside to get the people out. >> this man and several others make sure everyone was safe. the the rescuers needed to be themselves. >> i could fee
mitt romney and common sense conservatives will cut taxes on the middle class. and they'll close loopholes for millionaires. obama and his liberal allies? we can't afford four more years. [ romney] i'm mitt romney and i approve this message. >> live and in hd, this is abc 7 breaking news. [inaudible] >> breaking news is coming in washington.st seven residents were rescued by firefighters. people may soon be searching for e to wait -- to live. tom roussey has the first report of...
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>> you don't have to do a, quote, "tax in connection -- "tax increase". you're not doing a tax increase. getting $6 billion out of ethanol, and grover calls that a tax increase. neil: you think the time came to face the american people, tell them this sort of thing that we're up against romney exploited so cautiously. some think it's too late for that. do you buy that? >> no, i don't. everything can change in 30 days. you've watchedded this stuff. you know how it is. they say republicans carry the senate, and three days later, they lost it. the real rate of growth will be 3.1 this year, but it's 1.5. i never have seen a statistic right. in the volatility, they are waiting for someone to make a gaffe, and the gaffes are important, by people are listening. neil: let me ask you, senator, there is this end of the year train wreck you talk about. you warned about it always. the sequestering cuts that kick in, bush rates expire,atm issues, medicare issues, payroll tax issues, all at the same time. matter who is elected, they table this for six months whether it
>> you don't have to do a, quote, "tax in connection -- "tax increase". you're not doing a tax increase. getting $6 billion out of ethanol, and grover calls that a tax increase. neil: you think the time came to face the american people, tell them this sort of thing that we're up against romney exploited so cautiously. some think it's too late for that. do you buy that? >> no, i don't. everything can change in 30 days. you've watchedded this stuff. you know how it is....
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>>> you like taxes? i've got taxes for you. christine romans is here to talk about the very serious issue of the fiscal cliff and what it means for your bottom line. literally your bottom line. plug for your show. >> the bottom line is you're going to pay more in taxes next year either because you'll go off the fiscal cliff or because payroll tax is going to expire. taxes are likely rising next year. >> real numbers for people who make certain amounts of money. >> this is the fiscal cliff only. if you make $20,000 to $40,000, your taxes will go up, $1,231. move out with me, $40,000 to $64,000 a year, a $2,000 tax bill right there. $2,000. $64,000 to $108,000, 3,500 more in taxes you're going to pay. take a look at $108,000 and up, another $14,000 in taxes. you can see the more money you take, the more you're going to pay in taxes if the u.s. goes over the fiscal cliff. what's a fiscal cliff? it's a huge tax increase, huge tax increases and huge spending cuts that hit at beginning of january. the bush tax cuts would go away, the
>>> you like taxes? i've got taxes for you. christine romans is here to talk about the very serious issue of the fiscal cliff and what it means for your bottom line. literally your bottom line. plug for your show. >> the bottom line is you're going to pay more in taxes next year either because you'll go off the fiscal cliff or because payroll tax is going to expire. taxes are likely rising next year. >> real numbers for people who make certain amounts of money. >>...
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if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get a good deal. neil: mitt romney got in trouble when he tried to clarify just that view. but i'm not going to lower taxes as much as you think, i'm going to get rid of a lot of deductions and he left himself open to critics who said wait a minute, you were tax cuts are worth the paper they are printed on. but the goal is to get to a simpler tax code that when you takout some of the extraneous write-offs and allowances, credits, etc., and that he will get it something that makes it a black-and-white case,. >> and there is a question which is why don't politicians wanted. you would assume that they
if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get...
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$2,000 while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the content of this advertising. president obama: during the last weeks of this campaign... there will be debates, speeches, and more ads. but if i could sit down with you, in your living room or... around the kitchen table, here's what i'd say. when i took office, we were losing nearly eight hundred... thousand jobs a month, and were mired in iraq. today, i believe that as a nation we are... moving forward again. but we have much more to do to get folks back to work and... make the middle class secure again. now, governor romney believes that with even bigger... tax cuts for the wealthy, and fewer regulations... on wall street, all of us will prosper. in other words, he'd double down on the same trickle-down... policies that led to the crisis in the first place. so what's my plan? first, we create a million new manufacturing jobs... and help businesses do
$2,000 while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the content of this advertising. president obama: during the last weeks of this campaign... there will be debates, speeches, and more ads. but if i could sit down with you, in your living room or... around the kitchen table, here's what i'd say. when i took office, we were losing nearly eight...
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yeah yeah i think he he was he was certainly enlarging the truth on his tax plans and on what he was saying about obamacare medicare he has got some explaining to do over the coming days and weeks because he this is one of the problems with romney that he does play fast and loose with the fact sometimes it's government trouble before i think the question is how hard you are on him on these you know how how serious those mistakes are and where the you concentrate more on the style of barmah because that's what he's now got to make up rather than getting too wonky again to sort of pointy headed academic but sure there's got to be there's going to be some explaining and also you know the the big difference in. their present facts is that a farmer is still trying to help the less well off and romney is trying to help the better better off that fact needs to be delineated i don't know whether you would agree with that maybe used you all i mean rather than saying aided by romney's you know his newfound affection for the no i think it's a very good point rachel do you want to handle that i
yeah yeah i think he he was he was certainly enlarging the truth on his tax plans and on what he was saying about obamacare medicare he has got some explaining to do over the coming days and weeks because he this is one of the problems with romney that he does play fast and loose with the fact sometimes it's government trouble before i think the question is how hard you are on him on these you know how how serious those mistakes are and where the you concentrate more on the style of barmah...
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they want people to say to them, here is my specifics as to how it will help you and help tax reform is going to help you. here's how health care reform the mitt romney will help you specifically as a woman. a lot of these economic reformss o have very unique benefits fos n because of the role that they play in the economy. gerri: women, men, and family and all of the above. appreciate your time, kimberly. come back again soon. well, a victory in pennsylvania for democrats. a judge has blocd the state new election day. democrats said the requirement was an attempt to defeat president obama and republicans claimed it was to prevent voter fraud. meanwhile,n all-important state of ohio, early voting kicked off today. people able to vote by mail or in person without having to give a reason. if you are fired up about this or any other issues, drop me an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", the economy at a crossroads with the fiscal cliff looming. but it delayed a housing crisis as well? our panelists duke it out next. and high frequency trading. we have
they want people to say to them, here is my specifics as to how it will help you and help tax reform is going to help you. here's how health care reform the mitt romney will help you specifically as a woman. a lot of these economic reformss o have very unique benefits fos n because of the role that they play in the economy. gerri: women, men, and family and all of the above. appreciate your time, kimberly. come back again soon. well, a victory in pennsylvania for democrats. a judge has blocd...
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promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's intent. that's not romney's intent. romney god -- got to say the president is the one who's not telling the truthecaui woul do . >> a romney advisor last week said we have two goals. one is deficit reduction, one is tax cuts. cuts ie w we'll do deficit reduction. gwen: there's anoth numbe $716 million to deal with medicare but it's coming from different places and going to different places and trefore th fin - of de u in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for
promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's...
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vo: why won't t romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase e the deficit to pay for it. if we can't trust him here... how could we ever trust him here? let me tell you how i will create 12 million jobs when president obama couldn't. first my energy independence policy means more than three million new jobs. many of them in manufacturing. my tax reform plan to lower tes for the middle class and for small business creates seven million more. and expanding trade, cracking down on china and improving job training takes us to over 12 million new jobs. i'm mitt romney, and i approve this message. pamela howze: it just seems like such an... infringement on our lives. how dare they step into my life that way. it's none of their business. he's trying to restrict us again. he's taking us backwards. george allen is the last thing we need in washington. anncr: the democratic senatorial campaign committee is... responsible for the content of this advertising.
vo: why won't t romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase e the deficit to pay for it. if we can't trust him here... how could we ever trust him here? let me tell you how i will create 12 million jobs when president obama couldn't. first my energy independence policy means more than three million new jobs. many of them in manufacturing. my tax reform plan to lower...
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policy center explain that look these tax cuts no i'm serious i mean i didn't understand anybody had just me and i wasn't paying twenty percent go ahead well no no well i don't think he really understood the this is the thing or at least he hasn't shown that he does and this is what's confusing to a lot of people who are trying to understand all the bouncing ball and he's talking about basically a twenty percent federal task which he hopes to to make or says he will make revenue neutral by then closing some loopholes and deductions but the biggest deduction i can think of is is maybe mortgage credit and that sort of thing and i don't think you could ever come up with a number of mortgage credit actions that will make up for a twenty percent cut in revenue for the federal government so i think barack obama's trying to get at that equation you saying look the math doesn't work but the problem is that romney said it does you know read it talks about tax policy about like it was just like why don't you get this and the average person might be saying there is where mitt romney actually ha
policy center explain that look these tax cuts no i'm serious i mean i didn't understand anybody had just me and i wasn't paying twenty percent go ahead well no no well i don't think he really understood the this is the thing or at least he hasn't shown that he does and this is what's confusing to a lot of people who are trying to understand all the bouncing ball and he's talking about basically a twenty percent federal task which he hopes to to make or says he will make revenue neutral by then...
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well on the tax cut pointed particular i think rachel's point is an interesting one essentially agree with her that voters watching the debate in the moment are not going to be particularly fascinated by the minutiae of tax policy group but what i would say about the printer is that a lot of the time it's actually the post debate discussion that matters a lot and for maine public perceptions of these things and already today we're seeing the obama chair. again really driving hard at that precise point at the point that romney has not and fact really stipulated with great clarity how he will make this measure revenue neutral what loopholes he will close and i think those are the kind of things that the obama campaign is really frankly clinging on to you at the moment in an attempt to make this debate a little bit of an engine for their candidate than it first appeared to be you know david i think was very interesting is that even on the thing you know it's interesting is that the or obama said they wouldn't they wouldn't be beholden to the fact checkers you know do you think they're go
well on the tax cut pointed particular i think rachel's point is an interesting one essentially agree with her that voters watching the debate in the moment are not going to be particularly fascinated by the minutiae of tax policy group but what i would say about the printer is that a lot of the time it's actually the post debate discussion that matters a lot and for maine public perceptions of these things and already today we're seeing the obama chair. again really driving hard at that...
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and the atm and the tax taxes, reduce dividend and capital gains taxes. that's 6 trillion. what he's saying tonight is he's going to pay for it by closing loopholes or preferences but won't tell you which ones. maybe the chain can capitalize on that as john said earlier, but i think it does beg the question, why couldn't barack obama capitalize on that. >> rose: kathy, you wanted to say something. >> charlie i was wondering halfway through the debate whether the campaign had made a strategic decision, the likability advantage that the president has is so valuable to them that they didn't want to jeopardize that by him attacking mitt romney and coming across as unlikeable or less likeable, because you know it was astonishing that he didn't go after mitt romney. i was just talking to david -- in the room just a couple minutes ago, he made the case far more convincingly, far more aggressively and concisely for what president obama was trying to lay out the next four years than obama himself did up on the stage. i mean there was just time and again mitt romney managed to seize
and the atm and the tax taxes, reduce dividend and capital gains taxes. that's 6 trillion. what he's saying tonight is he's going to pay for it by closing loopholes or preferences but won't tell you which ones. maybe the chain can capitalize on that as john said earlier, but i think it does beg the question, why couldn't barack obama capitalize on that. >> rose: kathy, you wanted to say something. >> charlie i was wondering halfway through the debate whether the campaign had made a...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...
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$2,000 while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the conontent of this advertisin >> a new study is drawing a connection between childbirth impressed cancer. >> this unusual link. >> she works in finance, a young wife and mother to four-year- old. one day at work, she received a phone call that changed her life. >> i am sorry to tell you, you have breast cancer. >> 32 years old, and she was healthy and now diagnosed with breast cancer. her first thought was not been around for hircine. >> i want to see the first day of kindergarten. >> she had a bilateral the ceo -- a bilateral mastectomy and chemotherapy. >> i did not go ride a bike with them. i cannot do those things. >> breast cancer is an uncommon in women so young. a woman's risk of breast cancer goes up in the five years or so after she has a child. one-third of the 25,000 cases diagnosed in women under 45 or incidents of postpartum breast cancer.
$2,000 while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the conontent of this advertisin >> a new study is drawing a connection between childbirth impressed cancer. >> this unusual link. >> she works in finance, a young wife and mother to four-year- old. one day at work, she received a phone call that changed her life. >> i am sorry...
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and he's just as hapless on taxes. >> raise taxes with obama care but he's got another taxes in mind. >> governor romney doesn't need zingers. he needs to get his story straight. he needs to stop debating himself. and at the end of the day, this election isn't about one liners. just ask our president. >> i know folks in the media are speculating already on who's going to have the best zingers. what i'm most concerned about is having a serious discussion about what we need to do to keep the country growing and restore security for hardworking americans. that's what people are going to be listening for. that's the debate that you deserve. >> that's the debate voters deserve. and on wednesday night, they won't be distracted by any zingers cooked up by romney's team of joke writers. joining me now is michelle cottle, washington correspondent for "newsweek" and the daily beast. and dana milbank, columnist for "the washington post." thanks to you both for coming on tonight. dana, are zingers the answer for mitt romney? >> well, he has to beware the very perilous boomerang zinger. delivering
and he's just as hapless on taxes. >> raise taxes with obama care but he's got another taxes in mind. >> governor romney doesn't need zingers. he needs to get his story straight. he needs to stop debating himself. and at the end of the day, this election isn't about one liners. just ask our president. >> i know folks in the media are speculating already on who's going to have the best zingers. what i'm most concerned about is having a serious discussion about what we need to...
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more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities? >>> welcome back to fox 5 morning news. it is 6:24 now. wendy's or mcdonald's in which drive-through are you more likely to pull through. we'll have more on that in a minute. first, let's get a check on the markets with lauren simonetti with the business beat. >> good morning. >> let's talk about the markets before we get into this other thing. stocks actually rose on wednesday. >> yeah. we a say lot of volatility in the stock market because nobody was quite sure what would happen in the debates last night. we are all jittery about the job report we get for september. that comes tomorrow morning. in the end, as you can see, modest gains. the dow up 12 points. it actually crossed zero about 30 times during the
more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities? >>> welcome back to fox 5 morning news. it is 6:24 now. wendy's or mcdonald's in which drive-through are you more likely to pull through. we'll have more...
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we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few suggestions. >> you could say everybody is going to get up to a $17,000 deduction and use your charitable deduction or your home mortgage deduction or others, health care deduction and fill that bucket, the $17,000 bucket that way and higher income people might have a lower number or do it by the same method that bowles-simpson did it, limiting certain deductions, that's the sort of thing you do with congress. >> so there you go. that's the sort of thing he's talking about. romney's campaign emphasized after the interview those ideas are actually not part of his plan writing -- mark halperin, as you know, i'm an easily confused person
we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few...
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47% of americans, i'm not likely to be highly successful with the message of lowering taxes. you know, it's not elegantly stated. let me put it that way. i'm speaking off the cuff in response to a question. i have a very effective campaign that's doing a very good job, but not everything i say is elegant. >> mitt romney may have waited nine minutes before he stooped to talk about today's solid job numbers, but that's nothing because it took him 18 days to finally state the obvious about his videotaped comments where he dismissed 47% of the population. and while it's no apology, i guess better late than never. >> in a campaign with 100s if not thousands of speeches, now and then you will say something that doesn't come out right. in this time i said something that's completely wrong. >> joining us from washington is michelle cottle correspondent for news week and jonathan capehart, an opinion writer for "the washington post." john, if i might begin with you, psychological studies tell us that we tend to make the most radical changes in our lives up until our 23rd birthday on a
47% of americans, i'm not likely to be highly successful with the message of lowering taxes. you know, it's not elegantly stated. let me put it that way. i'm speaking off the cuff in response to a question. i have a very effective campaign that's doing a very good job, but not everything i say is elegant. >> mitt romney may have waited nine minutes before he stooped to talk about today's solid job numbers, but that's nothing because it took him 18 days to finally state the obvious about...
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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
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they are right now, and then the other night he says, well, i don't want to actually cut the actual tax rate, i want to cut rates and then i want to increase deductions and give us effectively the same amount of taxes coming into the economy which leaves him with an unutterly incoherent record. with romney you have nothing and i think the message you will start hearing next week is going back to that old mondale commercial, where is the beef, show us the beef, because there ain't none there. >> john, before we eviscerate mitt romney entirely, he hasn't jumped on the bandwagon, though he did downplay the jobless rate, and he misstated the reason behind it. take a listen to this, john. >> the reason it's come down this year is primarily due to the fact that more and more people have just stopped looking for work. >> in fact, the unemployment rate fell because more people were working. i mean, this man's not capable of telling the truth about anything. >> well, he's actually correct in some past months but not in today's job. >> but he was speaking today. >> and so what he's doing now is h
they are right now, and then the other night he says, well, i don't want to actually cut the actual tax rate, i want to cut rates and then i want to increase deductions and give us effectively the same amount of taxes coming into the economy which leaves him with an unutterly incoherent record. with romney you have nothing and i think the message you will start hearing next week is going back to that old mondale commercial, where is the beef, show us the beef, because there ain't none there....
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the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made assumptions that were not part of mitt romney's tax plan. there are six or seven follow-up studies that say romney's tax plan can do what the governor has said he would. he's going to eliminate or cap deductions on upper income brackets there is more enough in the basket of choices there to take care of providing the to 20% tax reduction to the middle class. >> no, there are not. >> with all due respect to what obama people are putting out, they're wrong on it. >> i'm not talking about what the obama people are talking. first of all, those a
the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made...
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i will not reduce the taxes paid by high income americans. >>reporter: that poll -- in polls taken after the debate show mitt romney across the board is considered the winner. this is the first of three presidential debates. the next one takes place on october 16th. tony and allison. >> nicole, thank you very much. coming up at 9:30, mr. martin is learning what young adults thought of last night's debate. he is live once again at american university for "campaign u." tony. >>> the company and brand known as kitchen aid is apologizing for an offensive political tweet. the post which has now been removed was sent out from the company's official account during the presidential debate. it read obama's grandma even knew it was going to be bad. she died three days before he became president. the tweet was sent after mr. obama referenced his grandmother during the debate while talking about medicare and social security. sin thee i can't soledad, kitchen aid senior director of marketing later posted from the company's account, apologizing to the prsi
i will not reduce the taxes paid by high income americans. >>reporter: that poll -- in polls taken after the debate show mitt romney across the board is considered the winner. this is the first of three presidential debates. the next one takes place on october 16th. tony and allison. >> nicole, thank you very much. coming up at 9:30, mr. martin is learning what young adults thought of last night's debate. he is live once again at american university for "campaign u." tony....
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lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing the foundation. lori: at the end of the day you need economic growth to be supportive of tax rates, and we are just come as you said, flat line at 1%. a revision, a downward revision. you know, hell are we going to get the overall growth rate higher? do we have to wait? obviously the election is so near, but are we just putting too much hope on to washington right now and not enough on good old fashion innovation and ingenuity? >> ingenuity and in this is great, but if government policies have their foot on the throats of the innovators and those who have the ability to create jobs it will take them somewhere e
lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing...